The Asian Development Bank (ADB) and India Sign $ 150 Million Loan to Improve Regional Connectivity

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Asian Development Bank (ADB) & GoI signed $ 150 Million Loan to finance continued improvements to road connectivity & efficiency of International Trade Corridor in West Bengal & North-Eastern Region of India.

Asian Development Bank
  • 2nd tranche loan agreement for $ 500 million South Asia Sub Regional Economic Cooperation (SASEC) Road Connectivity Investment Program.
  • It was approved in 2014, to expand about 500 km of roads in India՚s North Bengal & northeastern region.
  • 2nd tranche will upgrade:
  • about 66 km of national highways in Manipur,
  • construct about 1.5 km of international bridge b/w India & Nepal,
  • Provide additional financing for construction of about 103 km of state highway in Manipur.
  • Project will reduce transaction costs along targeted cross-border corridors substantially, creating economies of scale & commercial prosperity.

Asian Development Bank

  • Established in - 1966
  • Headquarter - Mandaluyong, Philippines
  • Membership: 67 members - 48 from region.
  • ln 2017, ADB operations totalled $ 32.2 billion, including $ 11.9 billion in co-financing.

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